Tidewater vs Oceaneering
Tidewater and Oceaneering International, Inc. this page compares business models, financial performance, and market context in a neutral, accessible way. It highlights strategy, market position, and key drivers without making forecasts or recommendations. Educational content, not financial advice.
Tidewater and Oceaneering International, Inc. this page compares business models, financial performance, and market context in a neutral, accessible way. It highlights strategy, market position, and k...
Which Baskets Do They Appear In?
North Sea Oil Expansion
Tap into companies positioned to benefit from Equinor's massive $1.3 billion investment in the Johan Sverdrup oilfield. Our analysts have carefully selected businesses across drilling, subsea engineering, and marine transport that are essential to this renewed North Sea activity.
Published: July 2, 2025
Explore BasketWhich Baskets Do They Appear In?
North Sea Oil Expansion
Tap into companies positioned to benefit from Equinor's massive $1.3 billion investment in the Johan Sverdrup oilfield. Our analysts have carefully selected businesses across drilling, subsea engineering, and marine transport that are essential to this renewed North Sea activity.
Published: July 2, 2025
Explore BasketInvestment Analysis
Tidewater
TDW
Pros
- Tidewater's Q2 2025 earnings per share significantly exceeded forecasts, with EPS of $1.46 versus an expected $0.52, indicating strong profitability.
- The company maintains robust financial health with a perfect Piotroski Score of 9 and a healthy current ratio of 2.07, demonstrating strong liquidity.
- Consistent strong gross margins above 50% reflect effective cost management and operational excellence over multiple quarters.
Considerations
- Active vessel utilization slightly declined from 78.4% to 76.4%, which could indicate operational challenges or fluctuating demand.
- Return on equity at 17.74% is moderate and lower than several peers like Oceaneering, which posts higher ROE, indicating relatively less efficient equity use.
- The company carries a debt-to-equity ratio of 55%, suggesting a moderate level of financial leverage that could increase risk in volatile market conditions.
Oceaneering
OII
Pros
- Oceaneering International displays a higher return on equity (28.59%) compared to Tidewater, indicating better profitability generation from shareholder equity.
- The company operates in offshore engineering and technology services, diversifying it from Tidewater's pure vessel support focus, which may offer resilience.
- Oceaneering's exposure to subsea engineering and robotics markets positions it well to benefit from technological advancements and offshore energy trends.
Considerations
- Oceaneering operates in a capital-intensive segment with significant cyclicality linked to offshore oil and gas activity, increasing exposure to commodity price volatility.
- The company's market capitalization is smaller than Tidewater’s, potentially resulting in less liquidity and higher stock price volatility.
- Operational risks include the need for continual investment in advanced technology and potential execution challenges in complex offshore projects.
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